Published on 12/20/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.91 million trigger notes linked to S&P 500 index
By Devika Patel
Knoxville, Tenn., Dec. 20 – GS Finance Corp. priced $1.91 million of 0% trigger notes due June 20, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be the greater of par plus the return and par if the index finishes above the 82.5% buffer level.
If the index finishes below 82.5% of the initial index, investors will lose 1% for each 1% decline.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger notes
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Underlying index: | S&P 500
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Amount: | $1.91 million
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Maturity: | March 21, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index finishes above the 82.5% buffer level, the greater of par plus the return and par; otherwise, 1% loss for each 1% decline
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Initial index level: | 2,258.07
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Final level: | Average of index closing levels on the five trading days ending March 16, 2018
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Pricing date: | Dec. 16
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Settlement date: | Dec. 21
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Agent: | Goldman, Sachs & Co.
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Fees: | 1.35%
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Cusip: | 40054KS49
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